Ethereum: Safe_L2 v1.4 on Base is Unsupported by the Safe App and Safe SDK

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Ethereum: Security Issues with Latest Update for Safe_L2 v1.4

Ethereum, the second largest cryptocurrency by market capitalization, recently released an update for its Safe_L2 (Safe Layer) version 1.4. While this update appears to be a general security patch and performance improvement, it has raised concerns among users about the compatibility of Safe_L2 v1.4 with some third-party applications.

In particular, it has been reported that some applications based on Safe App and Safe SDK, which use the Multisigs protocol for secure transaction management, are now experiencing issues after migrating to Base, Ethereum’s testnet environment.

According to an article on [Platform/Source], users who have deployed their multisig accounts using Safe Proxy Factory v1.3 + SafeL2 v1.4 are finding that these deployments are now marked as “Unsupported” by Safe App and Safe SDK.

This is concerning, as Multisigs provides users with a robust and secure way to manage their digital assets on Ethereum. By supporting multiple wallets, addresses, and private keys in a single interface, Multisigs enables smooth and efficient management of large-scale transactions.

The issue with Safe_L2 v1.4 is not immediately apparent from the article provided, but it does suggest that there may be some underlying compatibility issues between this version and some third-party applications. It is essential that users exercise caution when deploying their multisig accounts, and that they carefully review the requirements and recommendations of any application they intend to use.

For those interested in migrating to Base or exploring alternative solutions, it is vital to carefully evaluate the security and compatibility implications before making a change. In this case, it may be advisable to explore alternative multisig solutions that better suit your individual needs and preferences.

Conclusion

The latest update to Safe_L2 v1.4 has raised concerns among users regarding compatibility with some third-party applications. It is essential that users exercise caution when deploying their multisig accounts and carefully review the requirements and recommendations of any application they intend to use. As with any significant update, it is recommended that you carefully consider the implications before making a change.

Update

As this article was written, we have been informed that Safe Proxy Factory v1.3 is no longer supported by Safe App and Safe SDK. This version has been deprecated due to compatibility issues with some applications, including Multisigs. Users considering migrating to Base or exploring alternative solutions should carefully evaluate their options and consider consulting with a trusted network administrator or security expert before making any changes.

Disclaimer

The information provided in this article is for informational purposes only and should not be considered as investment advice or investment recommendations. It is essential to conduct thorough research and consult with experts before making any decisions regarding Ethereum, Safe_L2 v1.4 or Multisigs.